Snap & YouTube New Offerings

Companies introduce competing products

December 2017

Snap Inc. announced it is redesigning its application to provide a better way for publishers to distribute and monetize their Stories and a more personal way to communicate and find content to watch. Media speculated whether Snap's promise about ease of use of the new app will attract more new users and have a positive impact on Snap's shares, currently 20% below the company's IPO price. But then YouTube unveiled its new service called Reels the following day, described by some media outlets as another version of Snapchat Stories feature, aimed to expand video sharing among the website's community.

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